The inflation crisis is forcing a growling number of Americans to rack up credit card debt and tap their retirement savings, according to a new study.
Chronic inflation hinders millions of Americans' ability to prepare for their financial future, according to a new study published by Allianz Life. Findings from the Allianz Life Insurance Company of North America show that U.S. households are draining their retirement savings, taking on debt and reducing the amount that they are setting aside for the future to maintain their present-day finances.
401 'HARDSHIP' WITHDRAWALS SURGE TO ANOTHER RECORD AS HIGH INFLATION STINGS The Labor Department last month reported that the consumer price index, a broad measure of the price of everyday goods including gasoline, groceries and rent, rose 0.4% in February from the previous month. Prices climbed 3.2% from the same time last year. Both of those figures came in higher than the 0.3% monthly increase and 3.
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